Bitcoin was trading above $111,000 Friday morning in Europe, buoyed by news of a confirmed meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
The two leaders will meet on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea – the first face-to-face meeting since Trump took office.
The meeting comes amid escalating trade tensions, with Trump announcing additional 100% tariffs on Chinese imports in response to Beijing tightening its grip on rare earth exports. These tariffs are expected to take effect on November 1, unless the two sides reach an agreement by then.
European stocks traded higher alongside BTC’s gains, with futures linked to the S&P 500 rising 0.3%. The Euro Stoxx 50 index increased by 0.25% and the German DAX by 0.15%. Gold, meanwhile, fell almost 1% to $4,089 ahead of US inflation data.
Read: How Much Could Bitcoin, Ether, XRP and Solana Move After US Inflation Report?
